IL HB5668 | 2023-2024 | 103rd General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Income Tax Act. Creates an income tax credit for taxpayers who open and operate a supermarket or grocery store in a food desert community designated by the Department of Commerce and Economic Opportunity. Provides that the credit shall be in an amount equal to the total amount the taxpayer is assessed in property taxes for the location at which the supermarket or grocery store is located during the full taxable year that the supermarket or grocery store is open for business to the public. Effective immediately.

Tracking Information

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Title

INC TX-FOOD DESERT

Sponsors


History

DateChamberAction
2025-01-07HouseSession Sine Die
2024-04-05HouseRule 19(a) / Re-referred to Rules Committee
2024-03-08HouseTo Revenue-Income Tax Subcommittee
2024-03-05HouseAssigned to Revenue & Finance Committee
2024-02-22HouseAdded Chief Co-Sponsor Rep. John M. Cabello
2024-02-20HouseReferred to Rules Committee
2024-02-20HouseFirst Reading
2024-02-15HouseFiled with the Clerk by Rep. Kevin Schmidt

Code Citations

ChapterArticleSectionCitation TypeStatute Text
355241New CodeSee Bill Text

Illinois State Sources


Bill Comments

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